The 18th BRICS Leaders’ Summit, held in New Delhi on September 12-13, took place amid the Russia-Ukraine war, the Iran-Israel-U.S. conflict, tensions in China-India relations and strategic divisions in the Gulf. The summit’s main outcome was that members with differing geopolitical priorities were able to reach agreement around a joint declaration.
Marcus Vinicius de Freitas, a visiting lecturer at China Foreign Affairs University and a senior fellow at the Policy Center for the New South, said BRICS was not founded on the basis of a common security doctrine, political system or vision of the international order like NATO or the European Union. According to de Freitas, the group’s cohesion stems not from sharing the same views but from its ability to coordinate despite its differences.
New Delhi declaration called for dialogue amid tensions
In the New Delhi declaration, the leaders expressed concern over the escalation of tensions in the Middle East. The text called for restraint and emphasized dialogue and diplomacy, but this approach did not eliminate the fundamental differences among members.
De Freitas said BRICS’ diversity slowed negotiations, led to the use of more cautious language and limited ambitious geopolitical agreements. At the same time, this diversity allows different priorities in the Global South to come together on the same platform.
Economic reform and payment systems on the agenda
Economic cooperation and global governance were addressed within a more concrete framework at the summit. BRICS members supported reforms aimed at increasing the representation of developing and emerging economies in the International Monetary Fund, the World Bank and the World Trade Organization.
The leaders opposed unilateral tariffs and coercive economic measures. Preserving the multilateral trading system, improving cross-border payments, financing in local currencies and increasing the interoperability of national payment systems were also placed on the agenda.
The New Development Bank emerged as one of the tools for mobilizing development finance. Steps to facilitate trade, investment and payment connections were intended to reduce transaction costs and diversify the economic options available to member countries.
No decision on a common BRICS currency
No decision was taken at the New Delhi Summit to establish a common BRICS currency. Instead, settlements in local currencies, the interoperability of cross-border payment systems and the diversification of reserves were assessed under separate headings.
De Freitas said strengthening the New Development Bank and creating additional financial options could be more important than announcing an alternative currency that members were not yet ready to adopt.
China-India rivalry did not end BRICS dialogue
Strategic competition and unresolved disputes between China and India did not prevent the two countries from maintaining their presence within BRICS. Although the group has not eliminated the problems between the parties, it provides an additional political platform for managing their disagreements.
While seeking greater influence in existing international institutions, BRICS members are also working to develop new instruments outside those institutions. Efforts to reform the existing order are therefore proceeding alongside attempts to create alternative mechanisms.
The New Delhi Summit showed that BRICS is seeking to manage the contradictions of multipolarity rather than eliminate them. De Freitas said the group’s ability to preserve common objectives and manage differences would be decisive for the emerging international order.
